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newyuppie
Posted : Thursday, August 20, 2009 1:42:31 PM
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Joined: 6/25/2005
Posts: 8
Hi,

I am looking into developing the Chart Pattern Indicator in TC which I could plot according to the rules on Bulkowski Chart Patterin Indicator page. (Please see http://thepatternsite.com/CPI.html#AADB0, subtitle "Background")

He says he scans for a breakout of his NR7 pattern (which is only a scan for the narrowest range of 7 days) and then performs some counting based on this. I have a basic NR7 PCF formula down, which is the following:

H - L < H1 - L1 AND H - L < H2 - L2 AND H - L < H3 - L3 AND H - L < H4 - L4 AND H - L < H5 - L5 AND H - L < H6 - L6 AND H - L < H7 - L7

This produces TRUE if the stock is NR7 today.

I need some help producing the indicator please. If you look at his results (http://thepatternsite.com/CPI.html#AADB2), apparently it is a good indicator. Any contribution is greatly appreciated,

thanks,
NY
Bruce_L
Posted : Thursday, August 20, 2009 2:08:11 PM


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Joined: 10/7/2004
Posts: 65,138
If I'm understanding the Indicator correctly, I cannot think of a practical automated method of calculating the Indicator within TeleChart (but you could use the TeleChart data in Patternz).

-Bruce
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newyuppie
Posted : Thursday, August 20, 2009 2:25:46 PM
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Joined: 6/25/2005
Posts: 8
Thank you for your reply.

Based on your knowledge, do you think you could construct it in StockFinder though?

NY
Bruce_L
Posted : Thursday, August 20, 2009 5:07:37 PM


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Joined: 10/7/2004
Posts: 65,138
Yes, I probably could construct in StockFinder. That said, the resulting Indicator should never be used for backtesting as it uses future data.

I'm not a programmer, so it's also something that is going to take me a decent amount of time to write (long enough that it's only going to get worked on between answering other questions). I also already have another project in this category that came first (In Channel Since NH) that will get higher priority as a result.

-Bruce
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newyuppie
Posted : Friday, August 21, 2009 11:57:08 AM
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Joined: 6/25/2005
Posts: 8
I appreciate your time spent on this project. Please let me know of any news, I'll try to produce some code too in Stockfinder to see how far I can advance, and will post here if anything develops.

NY
Bruce_L
Posted : Friday, August 21, 2009 12:31:20 PM


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Joined: 10/7/2004
Posts: 65,138
I'll certainly let you know when I'm done or if I encounter any unexpected difficulties along the way.

-Bruce
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